U.S. trade deficit in 2021 hits record $859 billion

Politics Economy

The U.S. trade deficit in goods and services in 2021 marked the highest on record, with the trade gap widening 27 percent from the previous year to $859.13 billion, government data showed Tuesday. Exports increased 18.5 percent to $2.53 trillion on the back of recovery from the economic downturn triggered by the coronavirus pandemic. But imports also grew 20.5 percent to a record-high $3.39 trillion. The U.S. goods trade deficit with Japan increased 7.9 percent to $60.16 billion in 2021, the fifth-largest among countries with which the United States generated a trade deficit. The U.S. deficit ...

Kyodo News

Kyodo News